Friday, March 17, 2017

SBA: Final Month To Apply For Working Capital Loans From 2016 Flash Flooding In PA

The U.S. Small Business Administration Friday reminded small businesses, small agricultural cooperatives, small aquaculture businesses and most private nonprofit organizations in Pennsylvania of the deadline to submit disaster loan applications for economic injury caused by the flash flooding on June 17, 2016.
“Businesses that suffered economic losses as a result of the disaster and want to apply for low-interest loans from the SBA are urged to do so before the April 19, 2017 deadline,” said Frank Skaggs, director of SBA Field Operations Center East in Atlanta.
Low-interest disaster loans are available in the following counties: Fayette, Greene, Somerset, Washington and Westmoreland in Pennsylvania; Garrett in Maryland; and Monongalia and Preston in West Virginia.
Working capital disaster loans up to $2 million are available at 4 percent for small businesses, and 2.625 percent for private nonprofit organizations with terms up to 30 years. The loans are intended to pay fixed debts, payroll, accounts payable, and other expenses that could have been paid had the disaster not occurred. To be considered for this assistance, eligible entities need to apply by the deadline.
Survivors may apply online using the Electronic Loan Application (ELA) via SBA’s secure website.
Businesses may also obtain information and loan applications by calling the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the deaf and hard-of-hearing), or by emailing:  Loan applications can also be downloaded.
Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The deadline to return economic injury applications is April 19, 2017.

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